Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Shares Gap Up – Still a Buy?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) gapped up prior to trading on Tuesday . The stock had previously closed at $54.93, but opened at $61.28. Direxion Daily Semiconductors Bear 3x Shares shares last traded at $63.63, with a volume of 23,653,785 shares changing hands.

Direxion Daily Semiconductors Bear 3x Shares Stock Performance

The business’s 50-day simple moving average is $51.74 and its two-hundred day simple moving average is $226.51.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Smithfield Trust Co purchased a new stake in Direxion Daily Semiconductors Bear 3x Shares during the 4th quarter worth $4,679,000. PayPay Securities Corp raised its position in Direxion Daily Semiconductors Bear 3x Shares by 169.2% in the fourth quarter. PayPay Securities Corp now owns 54,598 shares of the company’s stock valued at $171,000 after purchasing an additional 34,320 shares during the period. Capstone Capital Management Ltd acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $252,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter worth about $6,178,000. Finally, Clear Creek Financial Management LLC boosted its position in shares of Direxion Daily Semiconductors Bear 3x Shares by 113.3% in the fourth quarter. Clear Creek Financial Management LLC now owns 64,000 shares of the company’s stock worth $200,000 after buying an additional 34,000 shares during the period.

Direxion Daily Semiconductors Bear 3x Shares Company Profile

Direxion Daily Semiconductor Bear 3x shares seek daily investment results of 300% of the inverse (or opposite) of the price performance of the PHLX Semiconductor Sector Index (Semiconductor Index). The Semiconductor Index measures the performance of the semiconductor subsector of the United States equity market. Component companies are engaged in the design, distribution, manufacture and sale of semiconductors. As of February 18, 2010, the Semiconductor Index included companies with capitalizations between $1.7 billion and $114 billion.